Analyst downgrades: MNST, BOBJ, MT, WAG and ZZ

MOST NOTEWORTHY: Monster Worldwide, Business Objects, Arcelor Mittal, Walgreen and Sealy Corp were today's noteworthy downgrades:

Wachovia downgraded shares of Monster Worldwide (NASDAQ: MNST) to Market Perform from Outperform citing increased risk of an economic slowdown and execution issues in its N.A. Careers segment.
Credit Suisse downgraded shares of Business Objects (NASDAQ: BOBJ) to Neutral from Outperform on valuation with shares above their $46 target.
Banc of America downgraded Arcelor Mittal (NYSE: MT) to Neutral from Buy on valuation. The firm also downgraded Walgreen (WAG) to Sell from Buy, as they see further downside following the Q4 miss and believes the problems in Q4 are company-specific and not industry-wide.
Citigroup downgraded shares of Sealy Corporation (NYSE: ZZ) to Sell from Hold following the Q3 results, as they believe Sealy faces increased competitive pressures at the high end of the market where the best margins are derived.

OTHER DOWNGRADES:

Goldman Sachs removed Cisco Systems (NASDAQ: CSCO) and Nucor (NYSE: NUE) from its Conviction Buy List.
Merrill Lynch added Intercontinental Hotels (NYSE: IHG) to its Least Preferred List.
ABN Amro downgraded Rio Tinto (NYSE: RTP) to Hold from Buy.
Soleil downgraded Leap Wireless (NASDAQ: LEAP) to Hold from Buy.

Tags: analyst, arcelor mittal, ArcelorMittal, bobj, business objects, BusinessObjects, cisco, csco, downgrade, ihg, intercontinental hotels, IntercontinentalHotels, leap, leap wireless, LeapWireless, mnst, monster, mt, nucor, nue, rio tinto, RioTinto, rtp, sealy, zz

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